Re: slow and steady wins the race, page-125

Only time will tell but keep in mind the original DFS was set at a much lower NDPR than at present. Build will obviously run higher but offset by the firmer NDPR prices and over run facilities. It's a balancing act but one in which the solid demand/macro and profitability over many decades of a massive resource that will see this to production.

At days end its mine to metal, not many of these in development let alone in production outside China. There's value in that aspect alone. Most of the current projects being developed have product that's going to have to deal with/in China far earlier in the process in order to get ot to metal. Sovereign risk (selling/milling to/in China) and less profitable than our mine to metal.

That aside, am glad we have Societ General and Nab as MLAs to close this out. The project is robust at an NDPR much lower than today's rate. Our offtake partners would also be well aware of the games that China play with commodity prices. That's the issue of a dominant player they up and drill down to squeeze out competition. Unfortunately China has done this one too many times, they are no longer a feasible, long term trading partner to the likes of Sth Korea, US etc.

With Taiwan as a constant backdrop and Russia as a lesson learnt for the west....well it's not always just the dollar at play. Think the Semi conductors saga?!

Am confident they'll close the deal come FID.